That is the question posed by a recent post from The Spoon, who notes that the average price for a pound of ground beef has risen by 20% in the past year alone.
Just several weeks ago, The Kansas City Star reported on a city-famous barbecue restaurant that told customers not to buy their popular famous brisket or burnt ends. The owner of the establishment said he hates being forced to charge his customers higher prices. The price for famous Arthur Bryant’s brisket sandwich costs $17.95 – a sandwich that used to cost $10.95 just four months ago.
As for the cost for a 12-ounce package of Impossible Foods’ ground [plant-based] beef, it continues to drop and is being priced in around $6 at some locations: which is roughly the same price of a pound of extra lean ground beef.
The Spoon writes, ‘Not quite price parity…yet. But as Impossible and other plant-based meat providers continue to ramp up volume, it’s worth asking: when meat alternatives reach price parity and, eventually, sell at a discount to animal meat, could customers start reaching for plant-based meat to save a buck?’
Over a year ago The WinePress reported that as inflation began to really takeoff, Impossible Foods purposefully gouged their own prices as a means of trying to undercut the prices of real meat. It seems that they are continuing to repeat this same business tactic.
While The Spoon points out that while the ‘Covid-related disequilibrium sorts itself out of the system,’ other factors like fertilizers for the feed, rising labor costs for processing and distribution, among others – see no signs of slowing down.
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If demand continues to grow for beef like it has in the double-digit percentile range, especially in the United States, then prices could still climb as labor as some other price factors level out.
‘For now, though, plant-based meat is still more expensive. Consumers are still asked to pay a plant-based meat “tax” when substituting an alt-meat patty at many fast food joints. While found for $5.99 at some stores, a package of Impossible or Beyond Meat ground is still priced significantly higher at premium grocers,’ The Spoon report read.
But this is set to change. Pat Brown, the former CEO of Impossible Foods, said in 2019 that the goal for his company was to gradually drive the prices of his faux meats down to the point where it is cheaper than of actual meats. Though he and his competitors are not quite there yet, they are well on their way to closing in on those goals.
Brown was quoted last year using rough language to express his disdain for actual meats, and wishes to see them gone from the dinner plate and off the farms.
The entire cause of the catastrophic collapse of wildlife populations, which are less than a third of what they were 50 years ago, globally, is the use of animals as a food technology […] Cows outweigh every remaining wild vertebrate on land by more than a factor of 10. Just the cows. We’ve literally totally replaced biodiversity with cows. Let’s get rid of friggin’ cows and let nature recover.
Moreover, when asked about the implications such measures would have on those in meat industry and livestock rancher, Brown bluntly stated: “they’re not going to be in that business anymore.”
Though it is still unclear what the consumer will do moving forward, The Spoon concludes, some consumers still may be willing to pay higher prices for “the real thing,” while others will slowly start to shift towards the plant-based and lab-grown meats.
But some nations are already greatly considering meat taxes, which very well could force many consumers to make the switch, to avoid paying another tax on top of the hidden one: inflation.
Though it has made great strides, the plant-based meat sector still is lagging in terms of appeal and taste, according to a study released last year that found a lower grade animal-based patty was still preferred over nine of the U.S.’s top-selling plant-based analog patties, for taste and nutrition.
Just recently, Pat Brown has stepped down as CEO of Impossible Foods, acting as the new “chief visionary officer;” with Peter McGuinness, the former president and chief operating officer at the popular yogurt company Chobani, taking control of the reigns. This could lead to a change of direction for the company moving forward.
Beyond Meats, Impossible Meats’ main competitor, also reported a drop-off in sales from Q4, such as -62.5% of net revenues, -20% for U.S. grocery sales, but up up 14.2% year-over-year for 2021 as a whole.
The canary in the coal mine is McDonald’s, and the test they are running with the [McPlant].
Menu board space is all the more precious now since the menu has been pared down to simplify operations and decrease wait times amid labor shortages. Amidst a pared-down menu board, sales have increased. Correlation or causation is hard to say, but it does seem reasonable to think that the hurdle to add something to the menu has been raised.
If McDonald’s rolls out plant-based burgers on a broad scale beyond the current trial, then my view might change.
Janette Barnard, associate director at Merck Animal Health Ventures
Franchisee sentiment on the sales performance [of the McPlant has been] underwhelming […] Their assessment was that they don’t see enough evidence to support a national rollout in the near future and that lower sales volumes were slowing down service times, as the product was being cooked to order.
We believe McDonald’s may continue to test and even offer McPlant in higher income, urban markets that appear more receptive to plant-based meat offerings, but a wide-scale launch seems a ways off at this point.
Peter Saleh, analyst at BTIG Research & Strategy, in a note.
Beyond Meats, in partnership with PepsiCo, just released their plant-based jerky, made mostly from peas and mungbean proteins.
AUTHOR COMMENTARY
Unfortunately, as we begin to see food rationing already take place, and with governments threatening a meat tax (in alignment with these Agenda 2030 climate goals), and the current culling of chickens and birds all over the world; overall, the masses will be goaded into making the change.
[1] Now the Spirit speaketh expressly, that in the latter times some shall depart from the faith, giving heed to seducing spirits, and doctrines of devils; [2] Speaking lies in hypocrisy; having their conscience seared with a hot iron; [3] Forbidding to marry, and commanding to abstain from meats, which God hath created to be received with thanksgiving of them which believe and know the truth. [4] For every creature of God is good, and nothing to be refused, if it be received with thanksgiving: [5] For it is sanctified by the word of God and prayer. [6] If thou put the brethren in remembrance of these things, thou shalt be a good minister of Jesus Christ, nourished up in the words of faith and of good doctrine, whereunto thou hast attained.1 Timothy 4:1-6
We are seeing these commands truly starting to take shape already, and if not by this summer or early Autumn of this year in America, meat taxes and/or regimented eating (a cap amount) plan will be initiated – tied down to a vaccine passport/Food ID/carbon calculator, and forth; to track who’s buying what, where it all goes, and how much is eaten – by next year for sure, and across Europe, and so many others.
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[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
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